Needham assumed coverage of Fabrinet (FN) with a Buy rating and $280 price target The company reported a “surprisingly broad-based” strong fiscal Q1, with low-speed Datacom carrying growth again as high-speed remained stalled ahead of the expected transition to 1.6T transceivers for Nvidia’s Blackwell, the analyst tells investors in a research note. The firm says the addition of artificial intelligence-related demand selling into the heart of the AI clusters adds a whole new dimension to Fabrinet’s opportunity.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on FN:

• Fabrinet Reports Record Revenue and Strong Growth

• Fabrinet reports Q1 EPS $2.39, consensus $2.38

• Fabrinet sees Q2 EPS $2.44-$2.52, consensus $2.44

• Is FN a Buy, Before Earnings?

• Fabrinet falls -7.0%